Doro posts strong operating profit growth in third quarter

doro simple mobile phone

Swedish assistive tech company Doro has reported strong operating profit growth during the third quarter.

The business reported operating profit of SEK38.4m (£3.2m) up by 54% on the previous year.

Carl-Johan Zetterberg Boudrie, President and CEO, said: “The improved operating profit is mainly an effect of lower operating costs, due to the previously implemented restructuring programme within Doro Phones.”

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Doro Care performed below expectations with lower profitability, however, which the business attributed partly to non-recurring costs of approximately SEK 5 million and partly to higher costs in its alarm receiving centres and continued high component costs.

Mr Boudrie said: “We are expected to see improved profitability in the coming quarters, and we work continuously to improve the efficiency in our service delivery.”

Doro acquired Dutch Innocom and Helpline from Bromford Housing in the UK during the quarter.

Mr Boudrie said: “Both acquisitions are fully in line with our strategy of becoming the European market leader in technology enabled care, which we want to pursue through both organic and acquisition growth.”

Looking forward, Mr Boudrie said: “The strategy for the business area going forward will be to continue to consolidate its position as the market leader for senior phones in Europe, but also to broaden the offering to new product areas. Doro intends to continue to make new technology available to seniors, by constantly working closely and developing new products for the senior market. We also want to initiate new strategic collaborations and implement smart acquisitions. Thereby continuing to facilitate the use of new technology and stimulate the senior’s interest and curiosity for technology going forward.”

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Lee Peart

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